Karachi: Final notices regarding unclaimed shares and dividends at Macter International Limited have been published today, according to copies from the Business Recorder and Roznama Dunya. These shares and dividends, which have been unclaimed for three years, are set to vest with the Federal Government, under the terms of Section 244(2) of the Companies Act 2017.
The company issued a notice under Section 244(1)(b) of the Companies Act, 2017, stating that the dividends declared and shares issued remain unclaimed or unpaid. Details are available on the company's official website. The notice specifies a 90-day period for shareholders to lodge claims at the company’s Registered Office or with the Shares Registrar, with addresses provided on the website.
According to information available from the Pakistan Stock Exchange (PSX), the unclaimed amounts will be deposited with the Federal Government if no claims are received within the specified timeframe. Previously, a notice was sent by post or courier to the last known addresses of the shareholders to submit their claims within three months; however, no responses were received.
This process is part of the enforcement of the Companies Act 2017, designed to manage and resolve issues related to unclaimed financial assets.